Toyota Corolla Altis [2008-2011] Car Loan EMI Calculator

₹ 23,377.
Here is how - Toyota Corolla Altis [2008-2011] price starts from ₹ 11,52,917 in Mumbai. If you pay a down payment of ₹ 0 for a 5-year loan available at 8% interest rate, your EMI amount will be ₹ 23,377.

Here is a model wise list of max loan amount for Corolla Altis [2008-2011].

Version	On-road price in Mumbai	Max Loan
1.8 G	₹ 14,73,870	₹ 12,87,478
1.8 GL	₹ 16,26,983	₹ 14,47,630
1.8 VL AT	₹ 17,47,847	₹ 15,55,849
1.8 J	₹ 13,07,959	₹ 11,41,536
1.8 Sport	₹ 12,88,661	₹ 11,44,700
J Diesel	₹ 15,15,070	₹ 13,37,718
G Diesel	₹ 17,60,096	₹ 15,56,491
GL Diesel	₹ 19,17,716	₹ 16,97,223

As a thumb rule, you can get a maximun loan of up to 100% of the ex-showroom price.

Good Practice will be to chose the shortest possible tenure for which you can afford an EMI amount.

• 1. If you select a higher tenure loan, let's say 7 years, your EMI for Corolla Altis [2008-2011] 1.8 J CNG will be ₹ 17,970 but you will have to pay interest of ₹ 3,56,563 over the period of 7 years.
• 2. If you select a lower tenure loan, let's say 3 years, your EMI amount will be higher at ₹ 36,128, but your interest payment will be only ₹ 1,47,691 over the 3 years period.

₹ 23,377
Toyota Corolla Altis [2008-2011] price starts from ₹ 11,52,917 in Mumbai.

We have considered
Down-payement : ₹ 0
Tenure : 5 years
Interest Rate : 8%

You will need to fulfill the following 2 criteria to buy Corolla Altis [2008-2011] with a loan

• 1. Age should be above 21
• 2. Your annual income should be above ₹ 3,85,000

As a general rule, banks or other lenders offer you a car loan 3 to 4 times your annual income. Considering the on-road price of Corolla Altis [2008-2011] starts from ₹ 11.53 Lakh, you can get a loan with an annual income as low as ₹ 3.85 lakh.

Here are the most important things you should consider while getting a car loan for a new Corolla Altis [2008-2011]

• 1. Interest rate - Go for the loan with the lowest interest rate.
• 2. Additional Charges - processing fee, prepayment charges, late payment penalty are some of the important points you need to check before taking a loan.
• 3. Tenue and Max Loan Amount - Select a lender who gives you a loan that you can afford.
  -If Max loan amount is lower, you will have to shell out more money upfront to buy the car.
  -If Tenue is lower, your per month instalment amount will increase.
• 4. Eligibility - Banks may have stricter eligibility requirements compared to NBFCs or other financial institutions.